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In the ongoing blame game, with the relatively unknown company called Ringing Bells trying to deliver a Rs 251 smartphone to the masses, there is now another big update. Seems that the company handling the payments has now refused to let go of the Rs 1.75 crore amassed from the lacs of buyers who have placed their orders for the Freedom 251 smartphone.
Things seem to getting worse for Ringing Bells. Even Telecom Minister Ravi Shankar Prasad said in a statement that the Ministry has enquired into how the company is able to manufacture a smartphone at such a low price. More so he went on to confirm that the department will take action as per the law if the company fails to make deliveries to customers.
Now we have another issue that has cropped up for Freedom 251 smartphone maker. Its payment gateway handled by PayUBiz has now released a statement, commenting that it will not release the accumulated funds generated by the lacs of orders received until Ringing Bells begins to dispatch the smartphones to customers.
“As a leading payment solution company, we are cognizant of both our merchants and buyers. With a surge in no. of queries received for Freedom 251 during last few days, we are cautious towards the payments being made by buyers to buy Freedom 251. As a responsible payment solution company, we have ensured that the buyer’s money remains safe with us and gets released to the merchant once the product is dispatched. In case the merchant is not able to fulfil the huge demand they have received, we will work with merchant to return the money to buyers,” said PayUbiz in an official statement.
Indeed, PayUBiz is doing the same to safeguard its customer’s money in case Ringing Bells is not able to deliver.
Seems that this will turn out to be roadblock for Ringing Bells who may have been relying on the accumulated funds to push out its initial batch of smartphones.
The smartphone priced at Rs 251 has been flooded controversy since its announcement. While many found it hard to believe that such a smartphone exists, many others doubted on the company’s practices and sourcing methods to build the world’s cheapest smartphone.
Meanwhile, Ringing Bells’ director Mohit Goel goes on to claim that the company will make Rs 31 profit on each unit sold. President Ashok Chadha has said that the price per unit is around Rs 1500, and not Rs 2500 disclosed during the launch.
Indeed the only set of people stuck in this entire controversy are the buyers who have placed their orders for the Freedom 251 who currently seem to be clueless about when their smartphones are expected to arrive. Shipping date while placing an order for phase 1 (first batch) stated June as the month for delivery, which is still a good four months away. At times this almost sounds like buyers have funded a Kickstarter project.
Freedom 251: PayUBiz to safeguard buyer payments until smartphone is dispatched Tech2 Mobile
Things seem to getting worse for Ringing Bells. Even Telecom Minister Ravi Shankar Prasad said in a statement that the Ministry has enquired into how the company is able to manufacture a smartphone at such a low price. More so he went on to confirm that the department will take action as per the law if the company fails to make deliveries to customers.
Now we have another issue that has cropped up for Freedom 251 smartphone maker. Its payment gateway handled by PayUBiz has now released a statement, commenting that it will not release the accumulated funds generated by the lacs of orders received until Ringing Bells begins to dispatch the smartphones to customers.
“As a leading payment solution company, we are cognizant of both our merchants and buyers. With a surge in no. of queries received for Freedom 251 during last few days, we are cautious towards the payments being made by buyers to buy Freedom 251. As a responsible payment solution company, we have ensured that the buyer’s money remains safe with us and gets released to the merchant once the product is dispatched. In case the merchant is not able to fulfil the huge demand they have received, we will work with merchant to return the money to buyers,” said PayUbiz in an official statement.
Indeed, PayUBiz is doing the same to safeguard its customer’s money in case Ringing Bells is not able to deliver.
Seems that this will turn out to be roadblock for Ringing Bells who may have been relying on the accumulated funds to push out its initial batch of smartphones.
The smartphone priced at Rs 251 has been flooded controversy since its announcement. While many found it hard to believe that such a smartphone exists, many others doubted on the company’s practices and sourcing methods to build the world’s cheapest smartphone.
Meanwhile, Ringing Bells’ director Mohit Goel goes on to claim that the company will make Rs 31 profit on each unit sold. President Ashok Chadha has said that the price per unit is around Rs 1500, and not Rs 2500 disclosed during the launch.
Indeed the only set of people stuck in this entire controversy are the buyers who have placed their orders for the Freedom 251 who currently seem to be clueless about when their smartphones are expected to arrive. Shipping date while placing an order for phase 1 (first batch) stated June as the month for delivery, which is still a good four months away. At times this almost sounds like buyers have funded a Kickstarter project.
Freedom 251: PayUBiz to safeguard buyer payments until smartphone is dispatched Tech2 Mobile
